Dollar General raises guidance after strong Q3
GOODLETTSVILLE, Tenn. — Dollar General reported that its third-quarter net income was $128 million, or a diluted earnings per share of 37 cents.
Excluding a net loss of $8 million ($5 million after income taxes) relating to the early repayment of certain long-term obligations, net income for the 2010 third quarter was $133 million, or a diluted EPS of 39 cents, a 76% increase over net income of $76 million, or 24 cents per diluted share, in the third quarter of fiscal 2009.
The boost prompted the company to raise its full-year adjusted earnings per share guidance to the range of $1.78 to $1.81, Rick Dreiling, chairman and CEO said.
Net sales for the quarter increased 10.1% to $3.22 billion in third quarter 2010, compared with $2.93 billion in the year-ago period. Same-store sales increased 4.2% in the 2010 quarter and 9.2% in the 2009 quarter, with customer traffic and average transaction amounts contributing to the same-store sales increases in both periods.